A Personalized, Sensitive Approach To Bankruptcy

Posts tagged "Chapter 13"

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Thursday, May 25, 2017.

A person in Oregon who has fallen behind on payments or is struggling to meet all financial obligations may find a solution through a Chapter 13 bankruptcy. According to the Cornell University Law School’s Legal Information Institute, this type of bankruptcy typically allows people to keep their homes, and even some of the equity they have accumulated. Individual retirement accounts are also generally safe, and cars. Keeping these three major assets in place while paying off some debts and having others discharged make this reorganization plan appealing to many.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Thursday, April 27, 2017.

Making the decision to file for Chapter 13 bankruptcy in Oregon can relieve a lot of the financial strain that you may have been facing due to overwhelming debt. Once begun, there are many steps in the process, including a 341(a) meeting. You can expect this to take place roughly 21 to 40 days after you file, and the United States Bankruptcy Court for the District of Oregon explains that it is absolutely necessary for you to attend to prevent your case from being dismissed.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Wednesday, March 1, 2017.

When you are not interested in liquidating your assets, but your income does not cover your expenses, it may make sense for you to look at your legal options to get you out from under the financial strain. According to the Oregon State Bar, you may be eligible to file a Chapter 13 bankruptcy if you meet certain qualifications.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Friday, February 10, 2017.

We have pointed out numerous times in this blog the factors that are used in determining eligibility for a Chapter 13 bankruptcy. To recap, Chapter 13 is known as the “repayment bankruptcy,” which may allow you to protect certain assets while repaying most or all of your debt in a manageable way. To qualify for Chapter 13, you need to meet certain income requirements. An ability to make regular payments is essential for Eugene residents to qualify for this type of bankruptcy. However, what if your situation changes and you are no longer able to make your payments as outlined in your bankruptcy agreement?

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Friday, October 28, 2016.

As discussed in previous posts, Chapter 13 bankruptcy may give you and other Eugene residents a chance to pay back most or all of your debt in a way that is manageable. The three- to five-year repayment plan that is approved by the bankruptcy court is designed to be affordable for those under Chapter 13, based on the ability to pay. However, at The Law Office of Kim Covington, we understand that life is not always reliable, and you might find yourself in a situation where it is no longer possible to make your Chapter 13 payments.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Friday, October 21, 2016.

If you are your own boss, you already know that keeping track of your income and expenses is much different – and often more challenging – than when you work for an employer in Eugene. You may find yourself facing financial struggles and trying to decide if it is time to file for bankruptcy. If bankruptcy is the eventual outcome, it will be crucial to provide accurate details about how much you earn, as well as how much you spend, to the bankruptcy court. Failing to provide accurate information may delay your case or cause it to be rejected.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Friday, September 2, 2016.

If you have read through some of the previous posts in this blog, you will likely have a basic understanding of the two main types of personal bankruptcy. Chapter 7 allows for a complete discharge of most debts, although you might lose some assets. Chapter 13 allows you to repay your debt through a manageable repayment plan, and you have a better chance of keeping your home and vehicles. However, you and other Eugene residents may wonder if you can get rid of some of your debt in a Chapter 13 bankruptcy without having to repay it.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Friday, August 19, 2016.

Throughout the posts in this blog, we have discussed the differences between Chapter 7 and Chapter 13 bankruptcy, as they apply to people in Eugene and elsewhere. These types of bankruptcy are known as personal bankruptcies, which are filed by people for their own personal debt. However, if you are a small business owner who is experiencing debt problems related to your personal life or business, or both, you might consider filing for Chapter 13. At The Law Office of Kim Covington, we are prepared to answer the questions small business owners may have when it comes to reducing overwhelming debt and saving their company.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Friday, July 8, 2016.

Lane County residents who are experiencing financial difficulties may find relief by filing for Chapter 7 or Chapter 13 bankruptcy. Company owners can also take advantage of the protections and benefits that bankruptcy provides if they are going through a difficult time.

On behalf of The Law Office of Kim Covington posted in Chapter 13 on Wednesday, June 1, 2016.

When struggling with debt in Oregon, many people shy away from seeking bankruptcy protection in fear that it will cost them their property, including their homes. However, filing for Chapter 13 itself does not put your home in jeopardy. In fact, it might help you to protect and keep your home through your bankruptcy case.

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